SXT Pharmaceuticals(SXTC)

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苏轩堂上涨3.18%,报1.63美元/股,总市值1.89亿美元
Jin Rong Jie· 2025-08-15 13:54
资料显示,中国苏轩堂药业股份有限公司(简称"中国苏轩堂") 一家创新型的中药制药公司,专注于中药 饮片产品尤其是现代中药饮片(直接口服及泡服饮片)的研发、生产和销售。中药饮片是一种经加工可以 服用的传统中药。几千年以来,中药饮片被中国人广泛使用。 本文源自:金融界 作者:行情君 8月15日,苏轩堂(SXTC)开盘上涨3.18%,截至21:33,报1.63美元/股,成交880.0美元,总市值1.89亿美 元。 财务数据显示,截至2025年03月31日,苏轩堂收入总额174.09万美元,同比减少9.73%;归母净利 润-330.37万美元,同比减少6.62%。 ...
苏轩堂上涨6.18%,报1.656美元/股,总市值1.92亿美元
Jin Rong Jie· 2025-08-13 15:58
Core Viewpoint - Su Xuan Tang (SXTC) experienced a stock price increase of 6.18%, reaching $1.656 per share, with a total market capitalization of $19.2 million as of August 13 [1] Financial Performance - As of March 31, 2025, Su Xuan Tang reported total revenue of $1.7409 million, reflecting a year-on-year decrease of 9.73% [1] - The company's net profit attributable to shareholders was -$3.3037 million, showing a year-on-year decline of 6.62% [1] Company Overview - Su Xuan Tang Pharmaceutical Co., Ltd. is an innovative Chinese pharmaceutical company focused on the research, production, and sales of traditional Chinese medicine (TCM) pieces, particularly modern TCM pieces for direct oral consumption and infusion [1] - Traditional Chinese medicine pieces have been widely used in China for thousands of years [1]
苏轩堂上涨5.33%,报1.58美元/股,总市值1.83亿美元
Jin Rong Jie· 2025-08-08 13:49
Group 1 - The stock of Su Xuan Tang (SXTC) opened with a 5.33% increase, reaching $1.58 per share, with a total market capitalization of $18.3 million as of 21:30 [1] - Financial data indicates that as of March 31, 2025, Su Xuan Tang's total revenue was $1.7409 million, representing a year-on-year decrease of 9.73%, while the net profit attributable to the parent company was -$3.3037 million, a decrease of 6.62% year-on-year [1] - Su Xuan Tang Pharmaceutical Co., Ltd. is an innovative Chinese medicine company focused on the research, production, and sales of traditional Chinese medicine pieces, particularly modern Chinese medicine pieces for direct oral and infusion use [1]
苏轩堂上涨3.16%,报1.63美元/股,总市值1.89亿美元
Jin Rong Jie· 2025-08-06 15:29
Group 1 - The stock price of Su Xuan Tang (SXTC) increased by 3.16% on August 6, reaching $1.63 per share, with a total market capitalization of $18.9 million [1] - As of March 31, 2025, Su Xuan Tang reported total revenue of $1.7409 million, a year-on-year decrease of 9.73%, and a net profit attributable to shareholders of -$3.3037 million, a year-on-year decrease of 6.62% [1] - Su Xuan Tang Pharmaceutical Co., Ltd. is an innovative Chinese medicine company focused on the research, production, and sales of traditional Chinese medicine pieces, particularly modern Chinese medicine pieces [1]
苏轩堂上涨10.26%,报1.72美元/股,总市值2.00亿美元
Jin Rong Jie· 2025-08-01 19:58
Group 1 - The stock price of Su Xuan Tang (SXTC) increased by 10.26% on August 2, reaching $1.72 per share, with a trading volume of $132,000 and a total market capitalization of $20 million [1] - As of March 31, 2025, Su Xuan Tang reported total revenue of $1.7409 million, a year-on-year decrease of 9.73%, and a net profit attributable to the parent company of -$3.3037 million, a year-on-year decrease of 6.62% [1] - Su Xuan Tang Pharmaceutical Co., Ltd. is an innovative Chinese medicine company focused on the research, production, and sales of traditional Chinese medicine pieces, particularly modern Chinese medicine pieces for direct oral and infusion use [1]
苏轩堂上涨5.13%,报1.64美元/股,总市值1.90亿美元
Jin Rong Jie· 2025-08-01 14:06
Core Viewpoint - Su Xuan Tang (SXTC) experienced a stock price increase of 5.13%, reaching $1.64 per share, with a total market capitalization of $19 million as of August 1 [1] Financial Performance - As of March 31, 2025, Su Xuan Tang reported total revenue of $1.7409 million, representing a year-over-year decrease of 9.73% [1] - The company's net profit attributable to shareholders was -$3.3037 million, reflecting a year-over-year decline of 6.62% [1] Company Overview - Su Xuan Tang Pharmaceutical Co., Ltd. is an innovative Chinese pharmaceutical company focused on the research, development, production, and sales of traditional Chinese medicine pieces, particularly modern Chinese medicine pieces for direct oral and infusion use [1] - Traditional Chinese medicine pieces have been widely used in China for thousands of years [1]
苏轩堂上涨3.93%,报1.59美元/股,总市值1.84亿美元
Jin Rong Jie· 2025-07-31 13:49
Core Viewpoint - Su Xuan Tang (SXTC) is experiencing a stock price increase and has reported a decline in revenue but a significant improvement in net profit, indicating potential operational challenges and cost management success [1]. Financial Performance - As of September 30, 2024, Su Xuan Tang reported total revenue of $829,500, representing a year-over-year decrease of 11.72% [1]. - The company recorded a net profit attributable to shareholders of -$802,600, which shows a year-over-year increase of 91.72% [1]. Company Overview - Su Xuan Tang Pharmaceutical Co., Ltd. is an innovative Chinese pharmaceutical company focused on the research, production, and sales of traditional Chinese medicine (TCM) decoction pieces, particularly modern TCM products for direct oral consumption and infusion [1]. - TCM decoction pieces have been widely used in China for thousands of years, highlighting the company's engagement in a long-standing industry [1].
SXT Pharmaceuticals(SXTC) - 2025 Q4 - Annual Report
2025-07-31 13:27
PART I [Item 3. Key Information](index=6&type=section&id=Item%203.%20Key%20Information) This section details significant investment risks, including business operations, VIE structure, China-specific regulatory challenges, and share price volatility [Risk Factors](index=6&type=section&id=3.D.%20Risk%20Factors) The company faces material risks from customer concentration, VIE structure vulnerabilities, PRC regulatory and political uncertainties, and potential delisting under the HFCA Act - The company operates as a British Virgin Islands holding company with no material operations, conducting all business through subsidiaries and a Variable Interest Entity (VIE) in China, posing unique risks for investors[24](index=24&type=chunk) - A significant portion of revenue is derived from a small number of customers, with **one customer accounting for 68.72% of total revenue in FY2025**[48](index=48&type=chunk) - The company's VIE agreements, crucial for operational control, have not been tested in a Chinese court, risking invalidation by PRC authorities[24](index=24&type=chunk)[67](index=67&type=chunk)[133](index=133&type=chunk) - The company's auditor, Enrome LLP, is currently subject to PCAOB inspections, but future inability to inspect for three consecutive years could lead to delisting under the HFCA Act[110](index=110&type=chunk)[114](index=114&type=chunk)[115](index=115&type=chunk) - The company has implemented two reverse stock splits: a **1-for-25 split effective October 5, 2023**, and a **1-for-8 split on February 25, 2025**, also eliminating the par value of ordinary shares[25](index=25&type=chunk) [Item 4. Information on The Company](index=34&type=section&id=Item%204.%20Information%20on%20The%20Company) This section describes the company's history, business operations, organizational structure, and properties, focusing on its Traditional Chinese Medicine Pieces (TCMP) R&D, manufacturing, and sales [History and Development of the Company](index=34&type=section&id=A.%20History%20and%20Development%20of%20the%20Company) The company, incorporated in the BVI in 2017, operates via a VIE structure controlling Taizhou Suxuantang, with its shares listed on Nasdaq since January 2019 - The company was incorporated in the British Virgin Islands on **July 4, 2017**, and operates through a VIE structure with Taizhou Suxuantang, established on **October 13, 2017**[160](index=160&type=chunk) - The company's ordinary shares commenced trading on the Nasdaq Capital Market under the symbol "SXTC" on **January 3, 2019**[162](index=162&type=chunk) [Business Overview](index=35&type=section&id=B.%20Business%20Overview) The company specializes in Traditional Chinese Medicine Pieces (TCMP), offering Advanced, Fine, and Regular varieties, with Regular TCMP dominating FY2025 revenue, and serves a diverse customer base in China Revenue Contribution by Product Type (FY2025 vs. FY2024) | Product Type | FY2025 Revenue % | FY2024 Revenue % | | :--- | :--- | :--- | | Advanced TCMP | 14.8% | 49.1% | | Regular TCMP | 82.9% | 49.0% | - The company has developed **11 Advanced TCMP products**, **5 Fine TCMPs**, and **200 Regular TCMPs**, with Advanced TCMP products being innovative for their ease of administration without traditional decoction[165](index=165&type=chunk)[166](index=166&type=chunk) - As of March 31, 2025, the company's customer base includes **57 pharmaceutical companies**, **14 chain pharmacies**, and **16 hospitals** across 5 provinces in China[170](index=170&type=chunk)[198](index=198&type=chunk) - The company has submitted **4 invention patent applications** and **8 utility model patent applications**, all under substantive examination by the State Intellectual Property Office of PRC[169](index=169&type=chunk)[200](index=200&type=chunk) [Organizational Structure](index=56&type=section&id=C.%20Organizational%20Structure) The company, a BVI holding entity, controls its PRC operating entity, Taizhou Suxuantang, through a Variable Interest Entity (VIE) structure, necessitated by foreign ownership restrictions - The company does not directly own its Chinese operating entity, Taizhou Suxuantang, but controls it through a series of VIE agreements entered into on **October 13, 2017**[268](index=268&type=chunk) - Key VIE agreements include: - **Exclusive Business Cooperation Agreement**: WFOE provides exclusive technical and management services to the VIE in exchange for service fees equal to the VIE's net income - **Share Pledge Agreement**: VIE shareholders pledge all their equity to WFOE to guarantee performance - **Exclusive Option Agreement**: WFOE has the right to purchase all equity in the VIE for a nominal price - **Power of Attorney**: VIE shareholders grant WFOE their voting rights[270](index=270&type=chunk)[273](index=273&type=chunk)[277](index=277&type=chunk)[280](index=280&type=chunk) [Property, plants and equipment](index=59&type=section&id=D.%20Property%2C%20plants%20and%20equipment) The company operates GMP-certified facilities in Taizhou, Jiangsu, including production, R&D, and storage, and is expanding its production base - The company has GMP-certified facilities in Taizhou, China, with a total of approximately **3,690 square meters** for production, R&D, and storage[283](index=283&type=chunk) - An expansion of the production base on a **33,300 square meter** land plot has been underway since **October 2017**[284](index=284&type=chunk) [Item 5. Operating and Financial Review and Prospects](index=59&type=section&id=Item%205.%20Operating%20and%20Financial%20Review%20and%20Prospects) This section analyzes the company's financial performance, highlighting a 10% revenue decrease and 7% net loss increase in FY2025, alongside improved liquidity from financing activities [Results of Operations](index=60&type=section&id=Results%20of%20Operations) In FY2025, revenue decreased 10% to $1.74 million and net loss widened 7% to $3.30 million, primarily due to declining Advanced TCMP sales and lower gross margin Financial Performance (FY2025 vs. FY2024) | Metric | FY 2025 | FY 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenues | $1,740,907 | $1,928,497 | $(187,590) | (10)% | | Gross Profit | $367,427 | $553,971 | $(186,544) | (34)% | | Gross Margin | 21.1% | 28.7% | - | - | | Net Loss | $(3,303,652) | $(3,098,532) | $(205,120) | 7% | Financial Performance (FY2024 vs. FY2023) | Metric | FY 2024 | FY 2023 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenues | $1,928,497 | $1,971,679 | $(43,182) | (2)% | | Gross Profit | $553,971 | $426,271 | $127,700 | 30% | | Net Loss | $(3,098,532) | $(5,934,772) | $2,836,240 | (48)% | - The decrease in gross margin in FY2025 was mainly due to a significant drop in sales of high-margin Advanced TCMP products and a higher sales mix of low-margin Regular TCMP products[300](index=300&type=chunk) - General and administrative expenses in FY2025 included a **$1,006,052 impairment loss** for a long-term deposit, contributing to the increased net loss[302](index=302&type=chunk)[303](index=303&type=chunk) [Liquidity and Capital Resources](index=66&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, cash and equivalents increased to $18.1 million, primarily from $8.4 million in financing activities, despite ongoing operating cash outflows and prior going concern doubts Cash Flow Summary (FY2025 vs. FY2024) | Cash Flow Activity | FY 2025 | FY 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(2,345,333) | $(1,928,053) | | Net cash provided by investing activities | $63,516 | $26,423 | | Net cash provided by (used in) financing activities | $8,399,153 | $(2,624,428) | - Cash and cash equivalents increased to **$18.1 million** as of March 31, 2025, from **$12.1 million** as of March 31, 2024, primarily due to financing activities[345](index=345&type=chunk) - As of March 31, 2025, the company's VIE held **90% of total assets** and **91% of total liabilities**[332](index=332&type=chunk) - The independent auditor's report for the fiscal year 2024 raised substantial doubt about the company's ability to continue as a going concern due to recurring net losses and declining revenue[671](index=671&type=chunk) [Item 6. Directors, Senior Management and Employees](index=72&type=section&id=Item%206.%20Directors%2C%20Senior%20Management%20and%20Employees) This section details the company's directors, senior management, their compensation, board committee structure, and share ownership, including Co-CEOs Feng Zhou and Simon Lim Sze Beng - The company's leadership includes Co-CEO and Director Feng Zhou, Co-CEO Simon Lim Sze Beng (appointed Jan 20, 2025), and CFO Xiaodong Pan[362](index=362&type=chunk)[363](index=363&type=chunk)[364](index=364&type=chunk) Executive Compensation (FY2025) | Name | Position(s) | Salary ($) | | :--- | :--- | :--- | | Feng Zhou | Co-CEO and Director | 50,000 | | Simon Lim Sze Beng | Co-CEO | N/A (appointed Jan 2025) | | Xiaodong Pan | CFO | 50,000 | - The Board of Directors consists of **5 members**, including **3 independent directors**, and has established Audit, Compensation, and Nominating and Governance committees[376](index=376&type=chunk)[393](index=393&type=chunk) - As of July 23, 2025, the company had **116,027,758 ordinary shares outstanding**, with Co-CEO Feng Zhou beneficially owning **532 ordinary shares**[401](index=401&type=chunk)[403](index=403&type=chunk) [Item 7. Major Shareholders and Related Party Transactions](index=85&type=section&id=Item%207.%20Major%20Shareholders%20and%20Related%20Party%20Transactions) This section outlines the company's related party transactions, including minimal revenue from related parties, financial guarantees, and non-cash settlements, with key figures like CEO Feng Zhou involved Revenue from Related Parties | Fiscal Year Ended March 31, | Revenue ($) | | :--- | :--- | | 2025 | 4,301 | | 2024 | 27,760 | | 2023 | 33,621 | - The company has provided financial guarantees for loans to related parties, including Taizhou Jiutian Pharmaceutical Co. Ltd., for amounts up to **$387,796** and **$303,168**[429](index=429&type=chunk)[866](index=866&type=chunk) - The company leases office and warehouse space from a related party for free and recorded operating lease expenses of **$69,343 for FY2025** based on the lease's fair value[428](index=428&type=chunk)[864](index=864&type=chunk) - Significant non-cash settlements occurred between the company and related parties, including an offset of a **$7.27 million long-term deposit** against amounts due to related parties in FY2025[426](index=426&type=chunk)[862](index=862&type=chunk) [Item 10. Additional Information](index=88&type=section&id=Item%2010.%20Additional%20Information) This section covers corporate governance, material contracts, exchange controls, and taxation, highlighting significant financing activities, reverse stock splits, and potential PRC resident enterprise or PFIC classifications - The company has engaged in multiple financing transactions through securities purchase agreements, primarily with Streeterville Capital, LLC, issuing convertible promissory notes throughout **2022, 2023, and 2024**[509](index=509&type=chunk)[517](index=517&type=chunk)[526](index=526&type=chunk) - In **January 2025**, the company conducted a PIPE offering, selling **14.2 million ordinary shares** and issuing warrants, and in **March 2025**, exchanged **28.4 million of these warrants for 11.225 million new ordinary shares**[553](index=553&type=chunk) - The company is subject to PRC exchange controls, where Renminbi is freely convertible for current account items (like dividends) but not for capital account items without prior approval[565](index=565&type=chunk) - There is a risk that the company could be classified as a PRC "resident enterprise," which would subject its global income to a **25% PRC enterprise income tax** and potentially subject non-PRC shareholders to a **10% withholding tax on dividends**[145](index=145&type=chunk)[576](index=576&type=chunk)[579](index=579&type=chunk) - The company may be classified as a Passive Foreign Investment Company (PFIC) for U.S. tax purposes, which could result in adverse tax consequences for U.S. shareholders[593](index=593&type=chunk) [Item 11. Quantitative and Qualitative Disclosures about Market Risk](index=122&type=section&id=Item%2011.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company faces market risks including credit, interest rate, commodity price, and foreign exchange fluctuations, particularly given RMB's non-convertibility, and does not use hedging instruments - The company's primary market risks include credit risk, interest rate risk, commodity price risk, foreign exchange risk, and inflation risk[612](index=612&type=chunk)[614](index=614&type=chunk) - Substantially all cash is held in PRC bank accounts, which are not insured, and the company's revenue and costs are denominated in RMB, exposing it to foreign currency exchange rate fluctuations[613](index=613&type=chunk)[617](index=617&type=chunk) - The company has not entered into any hedging transactions to mitigate its exposure to foreign currency or interest rate risks[615](index=615&type=chunk)[618](index=618&type=chunk) PART II [Item 15. Controls and Procedures](index=123&type=section&id=Item%2015.%20Controls%20and%20Procedures) Management concluded that disclosure controls were ineffective as of March 31, 2025, due to material weaknesses in internal control over financial reporting, with a remediation plan underway - Management concluded that as of March 31, 2025, the company's disclosure controls and procedures were not effective[625](index=625&type=chunk) - Material weaknesses in internal control over financial reporting were identified, including: - Inadequate accounting personnel with U.S. GAAP and bilingual capabilities - Inadequate segregation of duties in accounting processes due to limited staff size[626](index=626&type=chunk) - A remediation plan is in place to hire additional personnel, engage consultants, and enhance training to address these weaknesses[629](index=629&type=chunk)[631](index=631&type=chunk) [Item 16. Corporate Governance and Other Matters](index=124&type=section&id=Item%2016.%20Corporate%20Governance%20and%20Other%20Matters) This section details corporate governance, including the audit committee financial expert, code of ethics, principal accountant fees, foreign private issuer exemptions, and cybersecurity risk management Principal Accountant Fees | Fee Type | FY 2025 | FY 2024 | | :--- | :--- | :--- | | Audit fees | $130,000 | $151,000 | | Audit related fees | $15,000 | $30,000 | | Total | $145,000 | $181,000 | - The company follows its home country (British Virgin Islands) corporate governance practices, which exempt it from certain NASDAQ shareholder approval requirements for security issuances and the requirement to hold an annual meeting every year[641](index=641&type=chunk) - The company has implemented a cybersecurity risk management program overseen by the board of directors, with no material cybersecurity incidents identified as of the report date[646](index=646&type=chunk)[647](index=647&type=chunk)[648](index=648&type=chunk) PART III [Item 18. Financial Statements](index=128&type=section&id=Item%2018.%20Financial%20Statements) This section presents the company's consolidated financial statements for FY2025 and FY2024, prepared under U.S. GAAP, including balance sheets, income statements, cash flows, and detailed notes Consolidated Balance Sheet Highlights | Metric | As of Mar 31, 2025 | As of Mar 31, 2024 | | :--- | :--- | :--- | | Total Assets | $21,663,508 | $23,127,057 | | Total Liabilities | $6,223,746 | $9,196,611 | | Total Shareholders' Equity | $15,439,762 | $13,930,446 | Consolidated Statement of Loss Highlights | Metric | FY ended Mar 31, 2025 | FY ended Mar 31, 2024 | | :--- | :--- | :--- | | Revenues | $1,740,907 | $1,928,497 | | Gross Profit | $367,427 | $553,971 | | Net Loss | $(3,303,652) | $(3,098,532) | | Loss Per Share (Basic & Diluted) | $(2.321) | $(28.577) | - The company's operations are conducted through a VIE structure due to PRC legal restrictions on foreign ownership in the pharmaceutical sector, with agreements designed to give the company's WFOE control and economic benefits equivalent to direct ownership[690](index=690&type=chunk) - For the year ended March 31, 2025, the company recorded a **$1,000,451 impairment allowance** on a long-term deposit related to a potential acquisition that is no longer probable[775](index=775&type=chunk)
China SXT Pharmaceuticals Has Regained Compliance with Nasdaq’s Minimum Bid Price Deficiency
Globenewswire· 2025-03-17 12:30
Core Viewpoint - China SXT Pharmaceuticals, Inc. has regained compliance with Nasdaq's Minimum Bid Price Requirement after a share consolidation, closing the matter with Nasdaq [1][4]. Group 1: Compliance Notification - The company received a Compliance Notice from Nasdaq on March 13, 2025, confirming it has met the Minimum Bid Price Requirement [1][4]. - Previously, on October 3, 2024, the company was notified of its failure to maintain a minimum bid price of US$1.00 per share for 30 consecutive business days [2]. Group 2: Share Consolidation - To address the Minimum Bid Price deficiency, the company executed a share consolidation on February 25, 2025, consolidating every eight ordinary shares into one [3]. - Following the consolidation, the company achieved a closing bid price of at least US$1.00 per share for 10 consecutive business days from February 25, 2025, to March 12, 2025 [4]. Group 3: Company Overview - China SXT Pharmaceuticals, Inc. was founded in 2005 and is headquartered in Taizhou City, Jiangsu Province, China, focusing on Traditional Chinese Medicine Pieces [5].
China SXT Pharmaceuticals Has Regained Compliance with Nasdaq's Minimum Bid Price Deficiency
Newsfilter· 2025-03-17 12:30
Core Viewpoint - China SXT Pharmaceuticals, Inc. has regained compliance with Nasdaq's Minimum Bid Price Requirement after a share consolidation and has closed the matter with Nasdaq [1][4]. Group 1: Compliance Notification - The company received a Compliance Notice from Nasdaq on March 13, 2025, confirming it has met the Minimum Bid Price Requirement [1]. - Previously, on October 3, 2024, the company was notified of its failure to maintain a minimum bid price of US$1.00 per share for 30 consecutive business days [2]. - The company was given until April 1, 2025, to regain compliance under Nasdaq Listing Rules [2]. Group 2: Share Consolidation - To address the Minimum Bid Price deficiency, the company executed a share consolidation on February 25, 2025, consolidating every eight ordinary shares into one [3]. - Following the consolidation, the company achieved a closing bid price of at least US$1.00 per share for 10 consecutive business days from February 25, 2025, to March 12, 2025 [4]. Group 3: Company Overview - China SXT Pharmaceuticals, Inc. was founded in 2005 and is headquartered in Taizhou City, Jiangsu Province, China [5]. - The company specializes in the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces (TCMPs) and TCM Homologous Supplements (TCMHS) [5].